Internal Report Describes Shenanigans At Comverse

Law360, New York (January 30, 2008, 12:00 AM EST) -- Internal investigations at Comverse Technology Inc. have found that executives backdated stock options and often manipulated earnings to meet Wall Street's expectations for the company, according to papers filed with the U.S. Securities and Exchange Commission.

The news of the finalized report comes amid a multimillion-dollar fight between the company and its former chairman and chief executive officer, Jacob "Kobi" Alexander. The company filed a fraud suit against its former leader earlier this month. He, in turn, filed a $72 million fraud countersuit.

Comverse's filing with...
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